Baosteel/WISCO merger rumours denied

Baosteel has denied rumours of a merger between itself and the Wuhan Iron and Steel Company (WISCO).

While many industry observers thought that such a merger would fit in nicely with China’s plan of building three to five ultra-large steel conglomerates by 2025, the Chinese government has not expressed any intentions in this direction or held discussions with either WISCO or Baosteel, it is claimed.